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Voice Biometric Solutions Market by Product (Automatic Speech Recognition Software, Speech-to-Text Systems), by Applications (Forensic Voice Analysis, Access Security, Authentication and Fraud detection, Others), by Industry Vertical (IT&Telecom, BFSI, Government, Healthcare, Retail), by North America (United States, Canada, Mexico), by Middle East & Africa (UAE, South Africa, Saudi Arabia, Rest of Middle East Africa), by Asia Pacific (China, Japan, India, South Korea, Taiwan, South East Asia, Australia, Rest of Asia-Pacific), by Europe (Germany, France, Italy, United Kingdom, Spain, Nordics, Benelux, Rest of Europe), by Latin America (Brazil, Argentina, Rest of South America) Forecast 2024-2032
The Voice Biometric Solutions Market size was valued at USD 1.83 USD Billion in 2023 and is projected to reach USD 6.44 USD Billion by 2032, exhibiting a CAGR of 19.7 % during the forecast period. Voice biometrics authentication solutions rely on the voice signatures of the user or form of voice identification. Some of these solutions include speaker Verification, which is an authentication process meant to affirm a particular user, and speaker Identification which seeks to identify who among a group is speaking. Major characteristics are high discriminant accuracy, convenience, and the models’ capacity to learn multiple languages and accents. For example, they use voice patterns, tone, and temporal voice pitch for identification and authorization of access. Examples include mobile banking for completing financially secured transactions, criminal identification for police work, customer identification for call center services, and users identification for smart devices. Voice biometrics are also more secure and integrated with the new generation of identity and access management solutions in various sectors.
Product
Applications
Industry Vertical
The voice biometric solutions market is poised for significant growth over the next five years. Key factors driving this growth include increasing security concerns, growing demand for fraud detection, and advancements in artificial intelligence.
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 19.7% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 19.7% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
Primary Research
Secondary Research
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